New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-03-28
NONEY AND HESINESS.

There has been n drain OF money from TINS
point that is customary at this season, and also
another that is without precedent. The Street
has male up its mind that the danger Of stlln-
gcncy from either cause is past. and the stock
market answered last week by an average al
vance Of about 81 PER share, after allowance
for assessments paid on some stocks quoted.
The movement Of money to the interior for the
usual April settlements must lie by this time
nearly over But it is found that large amounts
have been sent to the West, and distributed
from western forwarding points. TO settle for
products. the shipment Of which before the
Interstate Commerce bill goes into effect is
especially desired. Chicago adviccs indicate
that this demand has begun to decrease, but
rs the Interstate Commerce bill docs not 90
into effect, and present rates and contracts do
not cease to lc in force until Tuesday, April
,. il is possible that the outgo due to that
cause may continue through this week. But
money used in ordinary April settlements will
lcgin TO return after this week and though
the next bank statement may show still lower
reserve the contraction Of 100000 in loans
during the last week has not depressed things,
and il is not ANTICIPATED that n larger contrac-
ton prior to April | will he found necessary.
At bottom. much confidence is based upon
the lclicf flat none OF the strong operators
WHO have the ability to make money tight
are now inclined TO do so. Some are at pres
cnt peculiarly interested in the development Of
properties or in negotiations or settlements
which slingcncy would arrest. Otlrrs are
believed TO have some hidden interest in the
success Of the Baltimore and Ohio arrange
mcnt. Others still may be disinclinod to
operate for lower prices against foreign buying
and ovcrfOwing money vaults in London. The
largo exports this month, at Ncw-York IS per
cent larger than for the same weeks in 1856
against an increase OF 1913 per cent in imports
for four weeks ending with Saturday, make it
comparatively easy to secure more money from
abroad for investment or speculation here,
the Bank Of England having also reduced its
rate. Then, too, the Treasury is steadily aid
ing TO the circulation. During the last week
il took in 81 100000 more gold than ii paid
out, but il paid out 81 200 900 in legal tenders
and So, JOG. 900 in silver moro than it took I'M
some days ago an official statement showed that
it had added TO the circulation already
$4,000. 600 Of the new 81, 81 and s. silver
certificates, and within the past week it has
put out $1,000 600 more.
Still another fact that helps the supply of
money for stock operations is that speculation
in most other exchanges has run into very shall
low water. Cotton, 1t is true, advanced three
eighths last week, and the transactions reached
100 900 bales, the stock at ports and interior
towns being only 1872 bales, against
,246 s67 ut date last year Exports in four
weeks have been 10000 bales against sos. $50
for the same weeks last year. and the domestic
demand for goods has been such that scarcity
in some grades is reported. Coffee was also
marked up half cent, and the prices of iron
and steel wcre steady. But wheat declined
thrcc-quartcrs, and the speculation seemed very
langud oil changed but little in price, but
tho market is in n catalcptio state; pork de-
cined little, with dairy products and eggs,
copper and lead The wheat market Is too low
to be worth selling and yet recent exports have
bccn so largo that the least reasonable bulls
bave to reckon upon 4 slackening Of the demand
as probable.
The Interstate Commerce bill is the chief
obstacle in tho path, but just now the abnormal
activity prompted by tho approaching change
OF rates and expiration Of contracts makes that
measure appear no hindrancc. But after April
8 its real influence can be better realized. One
bclnful feature has been tho settlement Of some
important labor difficulties during the last week.
cspocaIly tho strike OF silk workers ut Pater-
son. who resumed work on the terms proposed
by tho manufacturers. The shoe manufacturers
OF Massachusetts arc steadily increasing tho
NUN .,r Of hands employed, adbcring firmly
10 tho free shop policy. In tho Pittsburg